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Week's Only Relevant Data is Not Bond-Friendly
Week's Only Relevant Data is Not Bond-Friendly
You would be hard pressed to find a week with less to offer in terms of scheduled economic data. In fact, it's not an overstatement to say that regular old weekly jobless claims data was the only relevant report of the week. Unfortunately for fans of low rates, it's not showing any signs of cracks in the labor market (227k vs 235k f'cast). Continuing Claims, while still elevated, also managed to remain below the longer term highs from 3 weeks ago. There hasn't been a huge reaction in the bond market, but perhaps enough to say that we're now in modestly weaker territory instead of being closer to unchanged.
Correction to the Correction
| Time | Event | Period | Actual | Forecast | Prior |
|---|---|---|---|---|---|
| Thursday, Jul 10 | |||||
| 8:30AM | Jul/05 Jobless Claims (k) | Jul/05 | 227K | 235K | 233K |
| 8:30AM | Jun/28 Continued Claims (ml) | Jun/28 | 1965K | 1980K | 1964K |
| 10:00AM | Fed Musalem Speech | ||||
| 1:00PM | 30-Yr Bond Auction (bl) | 22 | |||
| 1:00PM | 30-Year Bond Auction | 4.889% | 4.844% | ||
| 1:15PM | Fed Waller Speech | ||||
| 2:30PM | Fed Daly Speech | ||||
| Friday, Jul 11 | |||||
| 12:00AM | Roll Date - UMBS 30YR | ||||
| 12:00PM | WASDE Report (%) | ||||
| 2:00PM | Jun Federal budget, $ (bl) | Jun | $27B | $-11B | $-316B |
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